HYDERABAD: RBI curbs on overseas property investments to protect the rupee seems to be good news for Indian real estate as capital which otherwise would have been diverted abroad will now stay in the country.

According to Anuj Nangpal, Managing Director, Investor Services, DTZ India, the announcement, however, does not clarify as to what will happen to partially completed overseas property transactions where part payment has been made.

In its bid to control the outflow of capital from the country, RBI slashed the annual cap on automatic outflows from $200,000 to $75,000 for an individual. Along with it, a ban has been imposed on overseas real estate purchases with immediate effect.

In recent times, there has been a surge in Indians buying properties in Dubai, Singapore, Malaysia and the suburbs of London.

“These investors interested in real estate will now be restricted to consider properties only within the country. This is likely to give a boost to real estate demand in the country, especially in the premium and luxury segment, as these investors are mostly high net worth individuals (HNIs),” he said.

CHENNAI: Just about a year ago the average home buyer did a double take on learning of the prices of top-end residences in prime areas of the city: a couple of projects offered homes ranging between Rs 3 and Rs 6 crore at the top end in large blocks of over 100 apartments each.

CHENNAI: The demand for office space dipped in Chennai during the second quarter of 2013 in the backdrop of the economic situation and cautious market sentiment, according to Colliers International’s quarterly update on office market.

HYDERABAD: In tune with changing times, the Hyderabad district administration will use Tabs (tablet phones) to keep tabs on government land in 16 mandals. Hyderabad could be the first district in the state to use Android-based tablets to get land details

HYDERABAD: Around 270 km east of Hyderabad, the city of Vijayawada on July 31 witnessed an immediate ripple effect of Congress’ ‘Jai Telangana’ call. Owners of commercial spaces in the ‘land of victory’ were found quoting as much as Rs 50 per square feet (sft) for properties which, until a few days ago, were up for grabs at a meagre Rs 15 per sft. Reason? The intense speculation about the city emerging as the largest business hub, if not capital, of the new Andhra Pradesh state.

HYDERABAD: After almost four years, Hyderabad’s real estate sector heaved a sigh of relief on July 30. With the commotion and chaos over separate statehood finally being given a burial and Telangana declared India’s 29th state, industry insiders said that their “long dry spell” was all set to come to an end now.